According to the Guardian, Barcelona are not in a position to meet that valuation, but are prepared to offer £16.5 million plus Caceres and Hleb.

While the Reds would prefer to have the cash to spend in the transfer market, Uruguay international Caceres may be an attractive option for Roy Hodgson .

The 23-year-old, who spent last season on loan at Juventus, is primarily a centre-back, but is versatile enough to deputise for Glen Johnson at right-back or to provide cover in Liverpool’s problem left-back position.

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Signing Caceres would also allow Hodgson to offload Sotirios Kyrgiakos without weakening his squad.

Greek defender Kyrgiakos, who is not part of Hodgson’s first-team plans, is believed to be a target for Juventus.